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ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU)

Dec, 31, 2020 — ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) is a federal credit union headquartered in BLOOMFIELD, NJ with 1 branch location and about $15.42 million in total assets. Opened 85 years ago in 1936, ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) has about 2,506 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION
Address:
(Main Office)
125 FRANKLIN ST.
BLOOMFIELD, NJ 07003-5730
Phone:(973) 748-8847
Fax:(973) 748-8846
Website:http://www.ectcu.org
Branches:1 branch locations
Members:2,506
Credit Union Type:Federal Credit Union
Charter Number:1131
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1936
Last Audited:Feb 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$15,421,697
CEO/Manager:Robert D Steeves
Chairperson:Kenneth King

Call Report

  • Commercial Loans
  • Credit Builder
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 654,279
TOTAL INVESTMENTS 5,062,865
Loans Held for Sale 0
 
 Real Estate Loans 2,525,876
 Unsecured Loans 3,194,881
 Other Loans 3,633,509
 TOTAL LOANS 9,354,266
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -106,119
 Land And Building 180,894
 Other Fixed Assets 49,363
 NCUSIF Deposit 118,578
 All Other Assets 107,571
  TOTAL ASSETS 15,421,697
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 236,212
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,483,326
 Regular shares 10,246,514
 All Other Shares & Deposits 2,263,484
  TOTAL SHARES & DEPOSITS 13,993,324
  TOTAL LIABILITIES 14,229,536
 Regular Reserve 419,836
 Other Reserves 0
 Undivided Earnings 772,325
  TOTAL EQUITY 1,192,161
  TOTAL LIABILITIES, SHARES, & EQUITY 15,421,697
INCOME & EXPENSE  
 Loan Income 519,805
 Investment Income 80,719
 Other Income 113,811
 Total Employee Compensation & Benefits 246,511
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 271,285
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 48,936
 Cost of Funds 12,750
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 134,853
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